Topic: India declines Bitcoin Legalization Again - page 6. (Read 1086 times)
I believe that will still approved it but in a matter of time because it is not that easy for the government to accept what they can't see and also the status of market right now is not that good it can be the reason why they don't approve it. We should just wait for the right moment.
Do you think Bitcoin being legalized will still happen for Indians?
you must ask yourself
Why does not the government of India legalize bitcoin? Is it because the government of India thinks bitcoin will be used to commit crimes? how many crimes were committed in India using bitcoin? What can bitcoin threaten to bring to India?
How many people are there in India, and how many people in India use bitcoin and how many people in India do not like bitcoin? governments have legalized bitcoin if they are pressed by the majority of its people
Crimes can be done with the USD or even INR can be used. Then how they can conclude the Bitcoin is resource used to make the crimes. It is not fantasy to think in those aspects. Believe it I personally know 5 and more traders who deals in INR as well in multiple currencies at LBC, Kraken and etc.
How come the government declines the bitcoin without doing proper research about it but many developers who are working in ICO are mostly Indians.
Do you think Bitcoin being legalized will still happen for Indians?
you must ask yourself
Why does not the government of India legalize bitcoin? Is it because the government of India thinks bitcoin will be used to commit crimes? how many crimes were committed in India using bitcoin? What can bitcoin threaten to bring to India?
How many people are there in India, and how many people in India use bitcoin and how many people in India do not like bitcoin? governments have legalized bitcoin if they are pressed by the majority of its people
Do you think Bitcoin being legalized will still happen for Indians?
I'm guessing for that they would have to allow exchangers returning to online business again.
Of course, there could be some sort of legalization for Indians. Although I don't think that this would be easy for them since the Indian government has a stand for bitcoin and it could be changing but I guess they need to persuade them more. I'm guessing for that they would have to allow exchangers returning to online business again.
It should not be forgotten that the Reserve Bank of India is only the central bank of this country. In India, while there are no laws regarding cryptocurrency, neither the legislature of this country, nor his government have yet adopted relevant regulatory legal acts. Therefore, in this bank there are still no instructions from these state structures to regulate cryptocurrency.
As far as I know, the government of India is generally positive about cryptocurrency and now the world is following the future decision of the Supreme Court of this country regarding some of the prohibitions of the Reserve Bank of India regarding cryptocurrency.
As far as I know, the government of India is generally positive about cryptocurrency and now the world is following the future decision of the Supreme Court of this country regarding some of the prohibitions of the Reserve Bank of India regarding cryptocurrency.
It seems to me that this is all in vain. It is a pity that India refuses such a strong means of managing funds. As for me, the blockchain technology is very important for each state.
From article
Sometimes, no regulation is not bad news. It probably means that the government of India does not see cryptocurrencies as a matter of immediate concern, or something that needs to be regulated right away. This at least means that fears of a ban are not imminent,” Shetty said.
i think like above.In that case and like in many other cases no regulation is not bad news
Better no regulation without ban than regulation what can create problems for users
Tell me in what country we have real crypto currencies regulation
Regulators are trying to avoid regulation
Crypto currencies are to popular to ban them and too much decentralized to fully approve them
However i think that India can follow France and create some space for ICO made in India
There is so many startups there
Sometimes, no regulation is not bad news. It probably means that the government of India does not see cryptocurrencies as a matter of immediate concern, or something that needs to be regulated right away. This at least means that fears of a ban are not imminent,” Shetty said.
i think like above.In that case and like in many other cases no regulation is not bad news
Better no regulation without ban than regulation what can create problems for users
Tell me in what country we have real crypto currencies regulation
Regulators are trying to avoid regulation
Crypto currencies are to popular to ban them and too much decentralized to fully approve them
However i think that India can follow France and create some space for ICO made in India
There is so many startups there
its very true so they shouldn't bother, if their concern is about scam ICO then i guess we can all care to give warning to investors from Indian projects.
i don't see it affecting Indian users in BTC being not legal, they can still use BTC as i can see there are tons of them using btc since time.
Regulators trying to avoid regulators i guess is because there is no concrete thing see as an example.
India will eventually legalize cryptocurrency, they are a technologically driven country, in fact, they should be one of the countries that should embrace cryptocurrency, they will have to compromise or set up strict regulations, the worst thing that could happen is countries are getting ahead of them in terms of blockchain technology, they will become a laughing stock.
It's a shame that India is so restrictive because the nation has a very strong IT sector with potential to become a global economic powerhouse. The issue appears to be the concern by the central planners in that country that bitcoin and other cryptocurrencies will become more powerful than the rupee. Remember, the country has placed restrictions on the importation of gold. Hopefully India will wake up and fully embrace the blockchain space.
India has a rich and poor economy, and you can see it clearly in this country. I do not agree with the ban because it is making this country unable to help the poor who can access society to become rich.
I cant fully understand why the India government often declines the legalization of btc, i think the govt actually needs a better understanding of blockchain and cryptocurrence and then btc, the positive impact it will have on the teaming India youths who are enthusiast about crypto, the govt just has to realize that crypto is globally now and the need for recognition and legalization is very important, it is inevitable, it could be now or later but it will surely happen.
I was expecting this from the beginning.so no wonder it happened again as the Indian government has this treatment for cryptocurrency.but in time since theres some issue that Indian government is just waiting for some expert opinion so they can decide the better way and for the whole countries concern
The ones in touch with Govt. of India or RBI needs to explain the job creation aspect of Bitcoin in India. Otherwise, they give a damn about Bitcoin's benefit in general.
It seems that India has no intention to study the real purpose of cryptocurrency. As what is mentioned in the article, it only means that India doesn't see cryptocurrency as a matter of immediate concern. Let's just hope that they will reconsider it somewhere in the future as many countries in Asia started to regulate and adapt cryptocurrency.
Do you think Bitcoin being legalized will still happen for Indians?
I'm guessing for that they would have to allow exchangers returning to online business again.
I'm guessing for that they would have to allow exchangers returning to online business again.
Anything may happens in this technology, those who do not like bitcoin may love bitcoin in the future and vice versa.
In case of government regulation, it may change if there is a chance on the government such as new President and new government staff.
Bitcoin is NOT illegal in India. Being illegal means that there is some particular sanctions for holding, using and accepting bitcoin. This is when your government provides a policy when you can get in jail (or at least get charged) for being related with BTC. If such things don't happen in your country then Bitcoin is not illegal.
If there is no clear statement about cryptocurrencies in the law it doesn't mean that it is illegal.
If there is no clear statement about cryptocurrencies in the law it doesn't mean that it is illegal.
I read somewhere recently that the Supreme Court of India have been delaying the crypto case against RBI for months now and no verdict on it has been delivered yet which is why I don't think what op mentioned is completely legit in this case.
As far as I know, Indians are still actively trading crypto through P2P and OTC solutions.
As far as I know, Indians are still actively trading crypto through P2P and OTC solutions.
Only applications using blockchain technology may or may not be permitted but still has not passed out any law for or against it so no legalization or non-legalization is mentioned.
Yes, until now there isn't anything specific has been revealed officially from the government whether crypto is illegal or legal. India being a big country with the increased population serve as a big market. Making it legal from a democratic country is not that easy and if it's been given legal support, a big impact can be felt on the price of bitcoin as well other digital currencies. 
Not intending to regulate doesn't equal banning. The bank wants to make the most of new technologies while keeping everything under control. Moreover, the bank statement is most likely not legally binding. So it's de facto regulations, not de jure. Furthermore, it might be that the government and the bank disagree on this matter, and the government is still committed to regulating the market. Anyway, I guess we'll have to wait to see the general tendency and the authorities' attitude to Bitcoin.
Only applications using blockchain technology may or may not be permitted but still has not passed out any law for or against it so no legalization or non-legalization is mentioned.
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